<ARTICLE> 5 <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1999 <PERIOD-END> MAR-31-1999 <CASH> 35,803 <SECURITIES> 2,425 <RECEIVABLES> 8,378 <ALLOWANCES> (291) <INVENTORY> 0 <CURRENT-ASSETS> 60,270 <PP&E> 34,474 <DEPRECIATION> 0 <TOTAL-ASSETS> 115,686 <CURRENT-LIABILITIES> 18,562 <BONDS> 78,294 <PREFERRED-MANDATORY> 307 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 66,440 <TOTAL-LIABILITY-AND-EQUITY> 115,686 <SALES> 0 <TOTAL-REVENUES> 8,169 <CGS> 0 <TOTAL-COSTS> (15,914) <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (2,832) <INCOME-PRETAX> (9,838) <INCOME-TAX> 0 <INCOME-CONTINUING> (9,838) <DISCONTINUED> 0 <EXTRAORDINARY> 154 <CHANGES> 0 <NET-INCOME> (9,684) <EPS-PRIMARY> (0.64) <EPS-DILUTED> (0.64)